Pune's Real Estate Market Shows 8% Decline in Property Registrations in January 2025
Pune's real estate market experienced an 8% decline in property registrations in January 2025, compared to the same period last year. However, stamp duty collections remained stable, reflecting a trend towards premiumization in the housing market.
Pune Real EstateProperty RegistrationStamp DutyPremiumizationHomebuyer PreferencesReal Estate MumbaiFeb 25, 2025
Despite this decline, stamp duty collections remained stable in January 2025, totaling ₹590 crore, nearly identical to the ₹589 crore collected in January 2024.
In comparison, December 2024 saw 17,348 properties registered, with stamp duty collections amounting to ₹620 crore.
According to Knight Frank India, a real estate consultancy firm, the primary reason for the 8% drop in property registrations in Pune's real estate market is the higher volume of property transactions during the festive season and the preceding months.
Despite the decline in registration numbers, stamp duty collections remained stable, supported by a rise in the share of properties worth ₹1 crore and above.
The demand for homes priced above ₹1 crore has notably increased.
Knight Frank India's monthly report states that the share of this segment grew from 13% in January 2024 to 15% in January 2025, reflecting a trend towards premiumization in Pune's housing market.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, said, “Pune recorded a moderation in property sale registrations in January 2025.
However, demand for higher-value homes, particularly those priced above ₹1 crore, continues to grow, reflecting positive homebuyers’ sentiment in the higher value segment.
While evolving affordability dynamics and market adjustments have influenced transaction volumes in the lower and mid-segment, a likely reduction in home loan interest rates and robust employment in the city is expected to support the market going forward.
Developers are adapting to shifting consumer preferences, ensuring a steady supply to meet demand.”
Knight Frank India also noted a strong demand for larger apartments, with the share of units over 800 sq.
ft.
rising from 28% in January 2024 to 31% in January 2025.
This shift highlights the ongoing preference for more spacious homes, a trend that has persisted since the pandemic.
In January 2025, Central Pune—comprising Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—continued to dominate residential transactions, accounting for 81% of the market share.
However, this marked a slight decline from the previous year, as new developments in other parts of the city began catering to Pune's evolving homebuyer preferences.
West Pune, covering Mawal, Mulshi, and Velhe, captured the second-largest share at 12%, while North, South, and East Pune collectively contributed to 7% of the transactions during the same period.
Frequently Asked Questions
What was the percentage decline in property registrations in Pune in January 2025 compared to the same period last year?
Pune's real estate market reported an 8% Year-on-Year (YoY) decline in property registrations in January 2025.
Why did property registrations decline in Pune in January 2025?
The primary reason for the 8% drop in property registrations in January 2025 is the higher volume of property transactions during the festive season and the preceding months.
How did stamp duty collections fare in January 2025 compared to January 2024?
Stamp duty collections remained stable in January 2025, totaling ₹590 crore, which is nearly identical to the ₹589 crore collected in January 2024.
What trend is observed in the demand for higher-value homes in Pune's housing market?
The demand for homes priced above ₹1 crore has notably increased, with the share of this segment growing from 13% in January 2024 to 15% in January 2025.
What is the current trend in the demand for larger apartments in Pune?
The demand for larger apartments remains strong, with the share of units over 800 sq. ft. rising from 28% in January 2024 to 31% in January 2025.
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